Senator BRANDIS (Queensland—Attorney-General, Vice-President of the Executive Council and Leader of the Government in the Senate) (14:18): I will tell you which is worse, Senator Gallagher: your catastrophic policy. That is the worst of all worlds, because it seems slowly to be dawning on you, Senator Gallagher, that, as a result of the measures that you have announced in relation to negative gearing, the value of the asset class held by most Australians would significantly deteriorate. Housing values would significantly deteriorate while rentals would sharply increase. The PRESIDENT: Pause the clock. Senator Conroy: Mr President, on a point of order: all three questions asked the Leader of the Government to defend what the Prime Minister said. Not once has he attempted to do that. I ask you, implore him to defend the Prime Minister. The PRESIDENT: There is no point of order. Senator BRANDIS: Senator Conroy, I did not actually hear the interview, but I always find myself in agreement with the Prime Minister on everything. But one of the things which I find myself in enthusiastic agreement with the Prime Minister is his well-informed critique of the consequences of your policy. If you want to take a policy to the election, Senator Gallagher, that would see the value of Australians' housing fall, bring it on. (Time expired)